All Forum Posts by: Daniel Amsalem

@Loid Danga my wife and I also host on AirBnB in Fairfax County's side of Alexandria (Huntington to be specific). I 100% agree with @Natalie Schanne that AirBnBing is the way to go. We rent out our walkout basement for about $2,100/mo doing a minimum of 30 night stays.

The regulation of up to 60 nights/year is only for short term stays (less than 30 nights).

So if you set a minimum like Natalie and me, you can earn a lot more and get some great landlording experience. Happy to chat it out further. 

Awesome deal! I've never heard of Compass, just did some Googling and saw they have an app. I guess it features MLS listings as well as off market stuff?

I was wondering is your property in Alexandria County or Fairfax County?

Hey @Grant P., great post. It definitely echoes the thoughts my wife and I are having.

We’re on our first house hack in Alexandria, about 9 months in and aiming for a second in Q3/Q4 of this year.

I’d love to do what @Nick Riccio said and find a place where we can value add by creating another bedroom of bathroom. But having a tenant ready walkout basement or ADU in great area has been invaluable for us

Right now, we've got our basement on AirBnB as a monthly rental and it's pulling in excellent rent. About $2,000 on a $2,800 PITI.

Because we’re near the metro and in an area popular with the military, as well as doctors and school faculty, I think mid term rentals will be consistent tenants for us.

With that in mind, I believed you can cashflow a few hundred bucks with mid term tenants and/or long term if the space is set up for multiple tenants.

That’s our plan and we’ll pivot as we learn more and test theories!

Yup, +1 on that. We bought and tried to STR in Alexandria Fairfax County and realized too late that it was not workable (limited to 60 nights out of the year).

We switched to MTR and plan to buy in Alexandria City next.

Hey Loid, we’re in Alexandria, in Fairfax County and we insured our primary residence with Erie and pay about $1,000/year. 

My buddy in DC called them and their quote was fairly high for a triplex. Not sure how they will do for an investment property but I’m liking them so far!

Excellent! Megan and I will be there!

Hey @Joe Gogal, my wife and I bought a townhouse in Fairfax County’s Alexandria in August 2021. We’ve been successfully house hacking since September 2021 and cover 2/3 our mortgage with one to two tenants at a time in our walkout basement. 

We want to buy again this year and are aiming for Alexandria County because they are friendly to short term rentals. 

Love the plan dude, looks like you’re on the right track. 

EDIT: Asking price for our place was $500,000. We place an offer with an escalation ending at $552,800 (agent said never end on an even, round amount like $550,000).

We provided significant earnest money at 3% and no inspection clause since we did a preinspection the day prior. 

Our offer was accepted at $552,800 (competing offer had an escalation that ended at $550,000 hah).

Our property was later appraised at $575,000! You can still snag a deal, just get a good agent who can move super quickly. 

My wife and I bought in Q3 of 2021 in Huntington area of Alexandria (Fairfax County) and are doing well with MTR.

Our basement is a walkout and we put it on AirBnB. Our PITI is roughly $2,800 and our MTR brings in $2,000.

Unfortunately, we’ve had a bunch of capex but we see the light at the end of the tunnel!

Our next place will be in Alexandria proper so we can do STR. We had a taste of that and brought in $3,000 a month twice (before realizing that wasn't legit).

Good luck!

Come to our next meetup. There are a couple of wholesalers there who are very friendly and willing to chat plus dozens of others with a variety of experience.

https://www.biggerpockets.com/...